India's FDI regime is most liberal in the world, says NITI Aayog CEO
Aug 08, 2020
New Delhi [India], Aug 8 : In the Mission 2020 summit organised by the Confederation of Indian Industry (CII), CEO of NITI Aayog Amitabh Kant emphasised that India's foreign direct investment (FDI) regime is the most liberal in the world.
In his address, Kant said, "Our FDI regime is the most liberal in the world. We have continued to attract a huge amount of investments. During the pandemic itself, India attracted over USD 22 billion worth of foreign direct investments into India. Almost 98 per cent of it comes through automatic route."
His remarks came when India along with the world is going through an economic slowdown due to the COVID-19 pandemic.
He said, "India has jumped nearly 79 positions in World Bank's ease of doing business. Our hope is that this year we will get into the top 50 and by next year we will get into the top three."
Regarding the pandemic situation prevailing worldwide, Kant said that post-pandemic, India will need to focus on lives and livelihoods and also revive the economy in particular.
Today's summit organised by CII emphasised on "reinventing technology in India combining the best of local and global talent, innovation and capital."
